Natural gas reserves could hit 166 trillion cubic feet in Egypt
Egypt, Economics, 2/23/2005

Egypt's Minister of Petroleum Sameh Fahmy on Tuesday said that confirmed natural gas reserves in Egypt hit 66 trillion cubic feet.

In his speech, read out on his behalf by Petroleum Ministry Under-Secretary Hamdy Shamel, at the inauguration session of the Second Conference on Natural Gas and Petrochemicals Technology, Fahmy said that the policy adopted by the government encouraged many foreign corporations to start oil and gas exploration activities in Egypt.

Explorations, specially in the Mediterranean and Western Desert areas led to an increase of the Egyptian oil and gas reserves, reaching as much as 66 trillion cubic feet until December last year.

Fahmy added that the foreign oil companies operating in Egypt expect more 100 trillion cubic feet of natural gas to be added to these reserves.

"Up to 90 per cent of the thermal power stations are modified to operate with gas in addition to the increase of houses that are currently using it ," he said.

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